Advantage Bank Seeks Approval to Open Hillsborough Branch Office.

Business Editors

BRANCHBURG, N.J.--(BUSINESS WIRE)--March 16, 2000

Advantage Bank today announced that it has filed an application with the N. J. Department of Banking and Insurance for permission to open its second branch office in the Triangle Center, Hillsborough.

"This new, full-service office will extend Advantage Bank's personal and professional services to individual and small business customers in the growing Hillsborough community," said Peter G. Schoberl, President and CEO of the year-old community bank.

Advantage expects to open its proposed Hillsborough branch immediately upon approval. The branch will be located at 286 Route 206 South, in a vacated building that formerly housed a branch office of First Union Bank.

"The Hillsborough branch office is a natural next step in our evolution as a community bank chartered to fill the personalized, local service void created by all the recent bank mergers," Schoberl said.

"A number of Advantage customers have requested services in the Hillsborough area, and we view this market as a promising trade area where members of our staff and Board of Directors have strong ties," he noted. "Adding this branch to our existing Branchburg and Raritan Township locations will enable the bank to continue expanding its service area quickly and efficiently, while still maintaining its path to profitability."

Advantage Bank opened its main office at 3421 Route 22 East, Branchburg, in January 1999 and offers Free For Life personal checking accounts and other full-service banking products. On July 30 the community bank opened its first full-service branch in Raritan Township at 215 Route 31 South.

Advantage Bank is a member of FDIC and MAC, and is an equal housing lender. For further information please call 800-959-0068 or visit the bank's Internet site at www.bankadvantage.com.